Business Intelligence Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Every organization and its procurement team look forward to negotiating the best deal while procuring a set of products or subscribing to services. Rate benchmarking involves price/cost comparison of more than one set of products/services to analyze the most efficient combination that can potentially help the procurement team in getting the optimum rate.

When analyzing the rate benchmarking of the business intelligence category, the geographic location, the quality of the service, nature of requirements and workforce cost are crucial factors. For instance, if compared USA and India, a sizable portion of SME's in India lack experience using applications, which makes it challenging for businesses to sell their goods whereas, in USA many small and medium-sized businesses use cutting edge software to meet their operational needs. The services provide in both the countries are somewhere similar but the advancement in technology give a slight edge to USA. If workforce is taken into account, India has the advantage of having access to cost-effective human capital, product management, and mobile skills. However, the USA, like many western nations, is currently experiencing a tech resource shortage. Every year, it outsources about 300,000 jobs. Jobs in IT and digital marketing make up 60% of these. Outsourcing to India can reduce overall development expenses by up to 60%. Additionally, US service salaries are generally higher than those in other nations. The US average developer pay is USD 94,000 compared to India, where the average pay is USD 14,000.

Depending on the service's scope, business intelligence services range in price. On-premises and cloud servers have different prices depending on their specifications. Costs for dedicated servers may be greater up initially. In North America the cost of Google cloud storage is USD 0.02/GB, in Europe it is USD 0.05/GB, whereas in Asia, its USD 0.08/GB.

To gain a comprehensive understanding of other aspects of rate benchmarking, please subscribe to our services and get access to the complete report.

Software customization is one of the major expenses associated while providing a service. In-house development teams or external contractors often handle the creation of custom software. Commissioning a custom software program is expensive, time-consuming, and requires significant in-house tech and input support, the firm must carefully choose when it requires the software. The range can be anywhere from a few dollars to many thousand dollars.

According to our research, big tech companies are paying above-average salaries to a BI software developer at their firm. For instance, BI software engineers at Google and Microsoft receive a 13% - 22% higher base salary as compared to the salary received by software engineers in Apple and Amazon. However, the year-on-year increment rate in all these companies majorly depends on the Key Result Areas (KRAs).

Organizations may find it cumbersome to continuously track all the latest developments in their supplier landscape. Outsourcing the activities related to gathering intelligence allows organizations to focus on their core offerings. At this juncture, our newsletter service can help organizations stay updated with the latest developments and innovations and subsequently assist in preventing disruptions in the supply chain. We have identified the following developments within the business intelligence category over the last two years:

In May 2023, SAP and Microsoft's new generative AI partnership is meant to focus on everything from tailoring customer engagement to making procurement processes more intuitive. The purpose of the Microsoft engagement is to enhance the processes that lie behind how users capture, keep, and develop what may still be their most important resource, their workforce. 

In April 2023, leading provider of business information and decision intelligence Pyramid Analytics (Pyramid) has entered into new partnerships with numerous key strategic Latin American technology partners, including AS Analytics, BACIT, EMC Software C.A., and many others. These agreements increase the footprint of the Pyramid Partner Program throughout Mexico and Latin America.

In March 2023, Qlik boost its data integration activities through the 'Connector Factory' initiative, which will expedite the company's creation of connecting links to more data sources, including SaaS apps and database systems, and help clients and partners with the development of custom data connectors.

In Nov 2022, the leading fresh food company in South Korea and the top tofu manufacturer in the world, Pulmuone Co. Ltd., and Aera Technology, the decision intelligence firm, have partnered to enable decision intelligence throughout the supply chain of the global leader. The company sought to enhance its product stock keeping unit (SKU) forecasting to account for multiple variables, eliminate master data challenges, and move from less flexible function-oriented systems to execute faster demand, supply, and logistics decisions at scale. The partnership helps to support its expanding global footprint and prevent business waste for its short shelf-life products.

In March 2022, with a shared goal of assisting their customers in improving the experiences of consumers, patients, clinicians, and employees, Microsoft and Nuance, who serve a variety of industries including healthcare, financial services, retail, and telecommunications, join forces as one organization. The companies anticipate that this will increase productivity and financial performance